Friday, October 31, 2014

Short term traders especially tend to lose money

Traders need to know that market makers are smart and most of the time they can see the stops.  They do know that most traders will place stops around whole, and they will hit the stops to shake you out.  You should also place stops close to supply and demand areas, not at supply and demand for the same reason. Most new traders treat the charts the opposite of how they treat their normal trading. Many try to buy things after they have already gone up in price, where stock are to high priced, and look to sell things after they have gone down in price where things are cheap. Every other buying or selling transaction in their lives is done properly, but trading is where things get messed up.
As the new trader is sitting at his or her computer trying to find good trades either in the stock or forex markets, they are examining charts and trying to figure out what to do: buy, sell, or wait. When a currency pair has  moved up, meaning a series of green candles has already formed, they can eliminate at least one of their options. You are too late to buy. Traders could wait at this time, or they could choose to sell in a quality supply zone. When a currency pair or stock has already moved down, thus a series of red candles has formed, the pair is at a lower price. New traders can’t sell cheap things, so one choice is eliminated.
Stop losses when trading

EUR/USD continues to lose ground on Friday

EUR/USD continues to lose ground on Friday, as the pair trades in the mid-1.25 range in the European session. On the release front, it’s a busy day in the Eurozone and the US. In the Eurozone, German Retail Sales posted a sharp decline of 3.2%. French Consumer Spending came in at -0.8%. In the US, today’s highlight is Revised UoM Consumer Sentiment. The markets are expecting the indicator’s upward trend to continue, with the estimate standing at 86.4 points.
It’s been a rough week for German releases, as the Eurozone’s largest economy continues to struggle. On Friday, Retail Sales were dismal, plunging by 3.5%. This marked the sharpest decline since October 2007. The markets had expected a decline of 0.8%. Consumer Climate and CPI softened in September, although Unemployment Change was better than expected. Meanwhile, Eurozone CPI edged upwards to 0.4%, matching the forecast. Core CPI and the Unemployment Rate remained unchanged, at 0.7% and 11.5% respectively.
EUR/USD weakened late in the Asian session. The euro is stable in European trade.
1.2688 remains a strong resistance line.
1.2518 is an immediate support level. 1.2407 is stronger.
Current range: 1.2518 to 1.2688
EUR/USD ratio is pointing to gains in long positions on Friday, continuing the trend seen a day earlier. This is not consistent with the movement of the pair, as the euro continues to lose ground. The ratio has a majority of long positions, indicative of trader bias towards the euro reversing direction and moving higher.

Thursday, October 30, 2014


 GBP/JPY  Daily
15::20 GMT - The 2/3 day range below 174.75/ 175~ continues into this  pm., pegging GBP to the midpoint of the Sep-Oct decline. At the 50%   mark, Oct's rally is stil potentially a corrective rally; we need to see acceptance above 175.00 to turn bullish (at     least into 177.50/ 178.00.)  [NR]
R5: 180.66 ** 19-Sep YTD high
R4: 178.70   23-Sep high
R3: 178.10~ * fr 26-Sep highs
R2: 175.00~ * Jan & Jul highs
R1: 174.75   fr 28-Oct hjghs
S1: 173.65   Tues low
S2: 171.02   22-Oct low
S3: 170.15   17-Oct low
S4: 168.00 * 15-Oct low
S5: 167.72 * 18-Mar low


USD/JPY has moved upwards on Thursday, as the US dollar has posted broad gains following the FOMC policy statement on Wednesday. In the European session, the pair is trading just above the 109 line. On the release front, there are two major US events -GDP and Unemployment Claims. Both indicators are expected to post strong figures, so we could see the dollar post gains in the North American session. As well, Federal Reserve Chair Janet Yellen will address an event in Washington. In Japan, today’s highlights are Tokyo CPI and Household Spending.
USD/JPY posted gains in the Asian session. The pair is choppy in the European session.
109.82 is the next resistance line.
108.58 has reverted to a support line after the yen lost ground on Wednesday. 107.68 is next.
Current range: 108.58 to 109.82
USD/JPY ratio is pointing to gains in short positions on Thursday, continuing the direction seen a day earlier. This is not consistent with the pair’s movement, as the dollar continues to post gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar moving higher.

Wednesday, October 29, 2014


 USD/CHF  Daily
13::20 GMT - Flat trade continues after low at 0.9443 Tues. However, westill see risk to the downside with next minor sup.  around 0.9420    while the more important level is at 0.9396. Bounce off Tues low was limited to 0.9480 and this is first res. for the     balance of the day.  N.I.
R5: 0.9574 * 13 Oct high
R4: 0.9558/63  15/23 Oct high
R3: 0.9520/25  intraday level
R2: 0.9511  Tues high
R1: 0.9480  intraday level
S1: 0.9443  Tues low
S2: 0.9420  intraday level
S3: 0.9396  16 Oct low
S4: 0.9358 * 15 Oct low

Tuesday, October 28, 2014

dollar slid lower against the yen

The dollar slid lower against the yen and the euro Tuesday after a measure of U.S. manufacturing fell for a second consecutive month, suggesting growth may be slower in the third quarter and interest rates may stay lower for longer.
The dollar fell to JPY107.78 from JPY108.12 ahead of the data, trading flat early in the Americas session. The euro rose to $1.2752, from $1.2710 beforehand, up 0.4% on the day.
Purchases of durable goods slid 1.3% in September from one month earlier to $241.63 billion, the second straight drop, the Commerce Department said. Economists predicted orders would rise by 0.7% in September.
The dollar's moves on second-tier data reflects the market's nervousness about the health of the U.S. economy and its effects on interest rates. Investors had been buying the U.S. currency in preparation for higher interest rates, which would boost yields on dollar-denominated assets. With the Federal Reserve meeting this week, investors are less certain.

Monday, October 27, 2014


 USD/JPY  Daily
13::00 GMT - Slow trade back this am. has covered Fri.'s range/ tests  Fri.'s low, with the USD not far off 107.50/ recent highs & a test of the bullish separation after Oct's big 105.50 test. Assuming the USD holds this 107.50/ 108.00 area s/t, next upsideis to 109.00/ back to the mid-Oct selling break.  [NR]
R5: 110.00-08 ** 1-Oct excs YTD high
R4: 109.90   3-Oct high
R3: 109.25   7-Oct high
R2: 108.75   8-Oct high
R1: 108.35~ * fr 23-Oct highs
S1: 107.40~   mid-Oct highs
S2: 106.75   22_Oct low
S3: 106.22   21-Oct low
S4: 105.45 * Jan high
S5: 105.20 * 15-Oct low

Thursday, October 23, 2014

USD/JPY trades in the high-107-range

The US dollar has posted gains on Thursday, as USD/JPY trades in the high-107-range in the European session. The dollar has resumed its winning ways, gaining close to 200 points in the past week against the sagging yen. On the release front, Japanese Flash Manufacturing PMI climbed to 52.8 points.  In the US, Unemployment Claims rose to 284 thousand, much higher than the previous reading of 264 thousand. However, the four-week average, which is less volatile than the weekly release, dipped to 281,000, a 14-year low.
USD/JPY was flat in the Asian session but has posted strong gains in European trade, breaking above resistance at 107.68.
107.68 has reverted to a support level as the dollar shows strong gains. 106.85 is stronger.
108.58 is the next resistance line.
Current range: 107.68 to 108.58
USD/JPY ratio is showing gains in long positions on Thursday, continuing the trend seen a day earlier. This is consistent with the pair’s movement, as the dollar has posted strong gains. The ratio has a majority of long positions, indicative of trader bias towards the dollar continuing to move higher.

Wednesday, October 22, 2014

Stock trading book

As a frequent contributor to Futures Magazine, MoneyMorning, Traders Advantage and other top financial publications, I know from experience that stock trading offers enormous profit potential for traders if you have the right tools for success. But, each year, millions of aspiring stock traders still come to the stock market but still fail to achieve any meaningful success despite being armed with the latest indicators or some expensive stock trading system. There are two main reasons: One, they lack a proper foundation in the study of price action and, two, they lack a method to show them where to find trading opportunities and when to pull the trigger. Price action is the language of the market that is spoken to you each day through price charts and, if you understand what its trying to tell you, then you'll never lack for low-risk trades again. But, you also have to have a stock trading method that provides a set of rules to show you when a trade is setting up with the least amount of risk combined with the highest probability of success. Without understanding either of these concepts, you're chances are slim that you'll succeed. But, if you have the patience, drive, and discipline to apply a few simple rules along with sound fundamental and technical analysis, then the odds are on your side that you'll succeed. In Simple Stock Trading Formulas, you'll read about the role of both the stock exchanges and stocks themselves so that you understand how the game is played. Next, you'll learn how to "look under the hood" to find fundamentally sound stocks that have the highest chance of becoming a high-performer, avoiding the stagnant, lifeless stocks that are going nowhere. Then, you'll get to the meat of the book and get a in-depth breakdown on technical tools, price patterns, how to spot compelling technical criteria, mindset, and a set of rules-based stock trading strategies that work in any market condition. You'll also learn: • The nature of the market and how to use it to profit. • What stocks are and what is their purpose? • Why volatility frightens the majority of traders but how you can profit from it. • The dual relationship of price and volume. • What roles do stock exchanges play? • What key indicators to use to get into the market (and when to stay out). • The best price patterns to trade for consistent winners. • How to spot market reversals and how to profit from them. • What warning signs to watch for so that you don't get wiped out financially. • What 3 indicators form an unbeatable winning formula for trading. • How to use "Big Daddy" to always be on the right side of the trend. • What the only two types of price action are and how to profit with them. • How to spot turns in the market and how to use them to time your entries. • 7 step-by-step trading formulas to find winning trades in any market type. • Fundamental and technical formulas to rack up above-average returns.
Excellent stock trading books

RSI trading chart indicator

Sometime there as a problem with using the RSI in this manner is that in a strong uptrend the RSI will typically use forty as a support level.  And when price is in a strong downtrend, the RSI will use sixty as a resistance level.  many traders talk about using the RSI with those new parameters to identify some of those opportunities as they approach supply and demand levels. This is a good time to go long or short in a stock trade.
The best information traders can take from this is to understand there are more then one way to think trading the stock markets. Traders can keep an look on the news and normal trend analysis and sell near the low and buy near the high at support and resistance. Traders can watch the reality of how they make money buying and selling stocks.  Traders need to learn how to trade. many times you would start to think different because we all want to buy at low prices and sell at retail prices in every part of your trading. That is actually  how you need to think about the trading markets because the truth is, there is no difference between the proper buying and selling action you take when trading and the proper buying and selling action you take when buying and selling most of the different stocks.
RSI trading chart indicator


 USD/CHF  Daily
13::30 GMT - Mkt. has peaked for now after making new high at 0.9530.  Sup. comes a bit higher now at the day low at 0.9473 and very s/term  outlook should stay mildly positive while this holds. lower sup. is at 0.9440. Above 0.9530 next res. is at     0.9563.N.I.
R5: 0.9624 * 7 Oct high
R4: 0.9592/00  8/10 Oct highs
R3: 0.9574 * 13 Oct high
R2: 0.9563  15 Oct high
R1: 0.9530  today high
S1: 0.9473  today low
S2: 0.9440  intraday level
S3: 0.9396  16 Oct low
S4: 0.9358 * 15 Oct low
S5: 0.9300 * 16 Sep low

Monday, October 20, 2014

Japanese yen is steady on Monday, as USD/JPY

The Japanese yen is steady on Monday, as USD/JPY trades just below the 107 line. It’s a quiet start to the week, with no US or Japanese releases on Monday. In Japan, BoJ Governor Haruhiko Kuroda reiterated the central bank’s policy stance.
USD/JPY ratio is showing little movement on Monday. This is not consistent with the pair’s movement, as the yen has posted gains against the dollar. The ratio has a majority of long positions, indicative of trader bias towards the dollar reversing direction and moving higher.
On Monday, BoJ Governor Haruhiko Kuroda stated that Japan’s economy continues to improve modestly, although consumer demand is down after the consumption tax hike in April. The BoJ would prefer to stay on the sidelines, but there has been talk that the central bank could step in with additional stimulus if the economy takes a turn for the worse. Such a move would weigh on the already weak Japanese yen.

Friday, October 17, 2014

Dollar up 0.2% against yen at Y106.50. Euro down 0.1% to $1.2795.

 USD this week's selloff in the dollar, investors of all stripes remain heavily positioned with bets on the greenback's rise. The buck may well see another push lower to reach some degree of equilibrium for the market. "Given the positioning, the dollar will weaken more on negative data surprises than it will strengthen on positive data surprises," says Mark McCormick, FX strategist at Credit Agricole. Also, voices from the Fed are becoming more dovish of late, so more investors will likely hesitate before putting on, or adding to, dollar-long positions over next two weeks until FOMC. Dollar up 0.2% against yen at Y106.50. Euro down 0.1% to $1.2795.

Thursday, October 16, 2014


 USD/CHF  Daily
13::05 GMT -Today's recovery has been capped so far in the 0.9480/00   res. band. Sup. should now be around 0.9430 while the more important  level is at 0.9395/00. A break here would swing the bias back to the downside. Higher res. is at 0.9520.N.I.
R4: 0.9592/00  8/10 Oct highs
R3: 0.9574 * Mon high
R2: 0.9520  intraday level
R1: 0.9480/00  intraday level
S1: 0.9430~  intraday level
S2: 0.9395/00  intraday level
S3: 0.9358 * Wed low
S4: 0.9300 * 16 Sep low

Tuesday, October 14, 2014

AUD/USD ratio has a majority of long positions

AUD/USD ratio has a majority of long positions, indicative of trader bias towards AUD/USD reversing directions and resuming its rally against the greenback.
The Australian dollar has edged lower on Tuesday, as AUD/USD trades in the mid-0.87 line in the European session. The currency started off the week in fine fashion, gaining almost 100 points on Monday. In economic news, Australian NAB Business Confidence dropped to 5 points in September. Later in the day, we’ll get a look at Westpac Consumer Sentiment. In the US, there was just one release, as NFIB Small Business Index missed the estimate.
Australian NAB Business Confidence continues to slip, falling to 5 points in September release.  This was the key indicator’s weakest showing since March. Weak business confidence could translate into decreased spending and hiring by the private sector, which would be very bad news for the economy and could hurt the Australian dollar.
•AUD/USD posted gains in the Asian session, breaking above resistance at 0.8763. The pair then retracted, and has remained steady in the European and North American sessions.
•On the upside, 0.8763 was breached earlier but recovered. It remains a weak line. There is stronger resistance at 0.8220.
•0.8668 is providing support.
•Current range: 0.8668 to 0.8763

Gold for December

Bullion erased this year’s gains earlier this month as signs of an improving U.S. economy added to the case for higher borrowing costs. Rising interest rates reduce gold’s allure because the metal generally only offers investors returns through price gains, while a stronger dollar typically cuts demand for a store of value.
“With uncertainty about the timing of the Fed’s rate hike now starting to show, we feel that equities and the dollar would continue on the defensive, which would then underpin gold,” Abhishek Chinchalkar, an analyst at Mumbai-based AnandRathi Commodities Ltd., said in a report today. “Gains could be capped around $1,250 an ounce if crude continues under pressure.”
Gold for December delivery added 0.5 percent to $1,236.10 an ounce by 7:36 a.m. on the Comex in New York. It reached $1,238 yesterday, the highest since Sept. 17. Gold for immediate delivery was little changed at $1,235.81

Monday, October 13, 2014


 USD/CHF  Daily
13::55 GMT -Mkt. has dropped back a bit further last several hours.    overnight. We still think it needs to hold 0.9500 or better or last   week's low at 0.9467 is likely to come under pressure. If the latter fails, next sup. is at 0.9449/56. Res. is at today's    high at 0.9574. N.I.
R5: 0.9675  intraday level
R4: 0.9635  intraday level
R3: 0.9624 * Tues high
R2: 0.9592/00  Wed/Fri high
R1: 0.9574  today high
S1: 0.9500~  intraday level
S2: 0.9467  Thurs low
S3: 0.9449/56 * 25/6 Sep lows
S4: 0.9420  break area
S5: 0.9400  intraday level

Saturday, October 11, 2014

Option Strategy Risk/Return

Written by Brian Johnson, a professional investment manager with many years of trading and teaching experience, Option Strategy Risk/Return Ratios introduces a revolutionary new framework for evaluating, comparing, adjusting, and optimizing option income strategies. Drawing on his extensive background in option-pricing and on decades of experience in investment management and trading, Brian Johnson developed these tools specifically to manage option income strategies. Unlike crude rules-of-thumb, these revolutionary new tools can be applied to any option income strategy, on any underlying security, in any market environment. Risk and return are timeless concepts in finance and trading, but this is the first time both concepts have been integrated successfully into a consistent approach for managing option income strategies. Option Strategy Risk/Return Ratios is written in a clear, easy-to-understand
Learn to trade options

Friday, October 10, 2014

Canadian dollar is slightly higher Friday

Canadian dollar is slightly higher Friday after rallying sharply in response to unexpectedly robust jobs data for September.
The rally took the Canadian currency off its session low, but a subsequent retracement of some of its gains left it only slightly higher than Thursday's close.
The U.S. dollar was last at C$1.1184, from C$1.1185 at Thursday's close, according to data provider CQG.
The U.S. unit had climbed to C$1.1208 just before the data's release and tumbled to a session low at C$1.1159 afterwards before recovering somewhat.
Statistics Canada reported the economy created 74,100 net new jobs--the most since May 2013--and the jobless rate fell by 0.2 percentage points to 6.8%.
The gains were predominantly in full-time work, where 69,300 positions were filled, the most since March 2012. The number of part-time jobs rose 4,800.
Market expectations had been for a 20,000 job gain, and a steady jobless rate of 7.0%, according to a report from Royal Bank of Canada.
The private sector added 123,600 jobs in September, wiping out a record decline in the prior month, StatsCan reported.
While the data were strong enough to provoke an immediate strengthening in the Canadian dollar, the volatility in Canada's labor force has resulted in caution among economists, who warn against attaching too much significance to monthly fluctuations in the report.

Thursday, October 9, 2014


USD/CHF  Daily
13::45 GMT -Recovery is underway after the mkt. bottomed out near  0.9470. Close res. is now at the day high at 0.9532 closely followed  by 0.9550/55. Below 0.9470 next target sup. is at 0.9449/56.N.I.
R5: 0.9635  intraday level
R4: 0.9624 * Tues high
R3: 0.9600  Wed high
R2: 0.9550/55  recent lows
R1: 0.9532  today high
S1: 0.9470  today low
S2: 0.9449/56 * 25/6 Sep lows
S3: 0.9420  break area
S4: 0.9400  intraday level

Britain’s economy slowed in the third quarter

Britain’s economy slowed in the third quarter of this year, according to a survey by the British Chambers of Commerce (BCC), which could raise concerns for the U.K.’s future economic growth rate.
The business lobby group’s Quarterly Economic Survey, contributed to by nearly 8,000 businesses, showed that manufacturing and export balances had fallen in the third quarter.
“The strong upsurge in U.K. manufacturing at the start of the year appears to have run its course.” John Longworth, Director General of the BCC said in a statement. “We may be hearing the first alarm bell for the U.K. economy, but this not need be the case.”

Wednesday, October 8, 2014

Canadian dollar is steady on Wednesday

The Canadian dollar is steady on Wednesday. Early in the North American session, USD/CAD is trading in the high-1.11 range. On the release front, Canadian Housing Starts rose slightly to 197 thousand. Over in the US, todays highlight is the minutes of the FOMC most recent policy meeting. Traders should treat this event as a market-mover.
Canadian Housing Starts continued to post solid numbers in September. The indicator rose to 197 thousand, up from 192 thousand a month earlier. This was within markets expectations, as the estimate stood at 195 thousand. Earlier in the week, Building Permits took a plunge. This key release often displays strong volatility, and this was indeed the case in the August reading, as the key indicator came in at -27.3%. This follows three months of strong gains. There was much better news on Monday, as Ivey PMI improved to 58.6 points, up sharply from 50.9 points a month earlier. The strong reading easily beat the estimate of 53.4, as the index hit its highest level in 11 months.

Gold continues to move higher

Gold continues to move higher on Friday, as the spot price is at $1217.71 per ounce in the European session. The metal has taken advantage of the US dollar losing ground this week and has recovered all of Friday’s sharp losses. In the US, today’s highlight is the minutes of the FOMC’s most recent policy meeting. Traders should treat this event as a market-mover.

Tuesday, October 7, 2014

Gold’s drop to 15-month lows

Gold’s drop to 15-month lows may be timely for Asian buyers, but even an army of discount-hungry Indian matriarchs won’t be enough to arrest the precious metal’s slide in the fourth quarter amid the onslaught of the resurgent dollar, a CNBC survey of strategists and traders showed.
Almost two-thirds of respondents said gold has scope to fall further in the final quarter pressured by a surging U.S. dollar, while 35 percent believe the selling is overdone and prices will recover towards year-end as Asian physical demand returns.
“The death of the Asian gold market is greatly exaggerated,” Mark O’Byrne, Founder and Executive Director of Dublin-based bullion dealer GoldCore, told CNBC in emailed comments. “Asian buyers have already begun coming back to the market and the latest data shows demand in India has picked up markedly and Chinese demand remains robust.”

Monday, October 6, 2014

Australian dollar has posted gains on Monday, as AUD/USD

The Australian dollar has posted gains on Monday, as AUD/USD is trading in the low-0.87 range. The Aussie posted sharp losses on Friday, losing over 100 points and dipping into 0.86 territory. On the release front, ANZ Job Advertisements, an important employment indicator, posted a solid gain of 0.9% last month. MI Inflation Gauge continues to post weak numbers, posting a gain of 0.1%. AIG Construction Index will be released later in the day. There are no US releases on Monday.
Early on Tuesday, the RBA will be in the spotlight. The Cash Rate is expected to remain at 2.50%, where it has been pegged since July 2013. The RBA has often stated that the Aussie is overvalued and weighing on a recovery, but the currency has lost some 500 points since the last RBA statement in September.

Trade stocks on line

Technology has outdone itself these days when it comes to trading stocks online. May it be in simple means of communicating or in much more complicated trades or money making transactions, the use of the computer has become very apparent in most traders lives. In stock trading, the rise of the market transactions online has become quite easy over many years now. Many institutional investors prefer to use sophisticated computer technology to assist them in making investment decisions. And many people argue that computers may just be better at picking stocks than traditional human brokers. Normally this is true but the brokers can trade much higher volume the average trader. Although computers may perform a lot of sophisticated utilities especially at the exchanges, you may wonder whether or not these can really be better aids for trading as compared to traditional brokers. At the end of the day, remember that what technology has to offer are mere recommendations and ultimately, the decision is still up to you.

Friday, October 3, 2014


Gold has posted slight losses on Friday, as the spot price stands at $1207.10 per ounce late in the European session. On Thursday, the ECB left interest rates unchanged but said that it would begin purchasing asset-based securities (ABS) in the fourth quarter of 2014. Over in the US, todays highlight is the Nonfarm Payrolls, which should be considered a market-mover. As well, the US will release the unemployment rate, Trade Balance and the ISM Non-Manufacturing PMI. Recent sharp gains by the US dollar are weighing on gold prices, as a stronger dollar diminishes the metal’s appeal as an alternative asset to the dollar. The dollar enjoyed a spectacular September, as gold prices have tumbled over 6% during this period. With the Fed scheduled to wind up QE and attention shifting to the timing of an interest rate hike, gold could continue to move lower.
It has been a week to forget for the pound, as GBP/USD has shed over 200 points. Early in the European session, the pair is trading at the 1.60 line, its lowest level in three weeks. On the release front, UK Services PMI dropped to 58.7 points. In the US, Nonfarm Employment Change and the unemployment rate sparkled and the pound has dropped sharply in response.
British Services PMI softened in September. The index dropped to 58.7 points, down from 60.5 points a month earlier. The estimate stood at 59.1. Earlier in the week, Construction PMI improved to 64.2 points last month, beating the estimate of 63.7 points. This marked a fourth straight increase and the indicators highest level in 8 months. However, Manufacturing PMI disappointed at 51.6 points, its lowest level in 16 months.

Thursday, October 2, 2014


 USD/CHF  Daily
13::10 GMT - Earlier uptick was capped ahead of the 0.9596 high and prices have dropped back. Sup. is at the day low at 0.9523 closely  followed by 0.9513 and 0.9487. Res. is at 0.9580. More ranging action likely near term.N.I.

Wednesday, October 1, 2014


 USD/CAD hovered in a tight 1.1200-1.1220 range overnight before slipping modestly in North American trading. Pair last at 1.1195 vs 1.1196 late Tuesday. Many market watchers expect the Canadian dollar to continue its retreat in the face of the broadly strengthening greenback, but BMO says it's actually trading moderately higher than where its key drivers, including the two-year and five-year swap rate differentials, predict it should. "General USD demand and interest rate differentials have basically worked in tandem to push USD/CAD higher since Monday," BMO says. Firm is of the view that the loonie is somewhat undervalued, but sees USD/CAD likely staying above strong support between 1.1200 and 1.1150.